The desperate Greek government has decided to lift a ban on slot machines amidst it’s attempts to steer the country out of bankruptcy. In 2003, Greece decided to apply a blanket ban on low priced slot machines in attempt to curb illegal operators all over the country. Seven years later, Greece has decided that it really needs the revenue in gambling royalties to help it’s budget and attempt an economic recovery.

A law is being drafted on how the country will allow slot machine licences and to be distributed and how the royalties will be managed. This new gambling bill is part of the International Monetary Fund bailout deal and is expected to net the government 1.3 billion euros a year in gambling revenue. The legal side of Greece’s gambling market consists of casinos, horse races and state lotteries netting about 8.7 million euros a year. The illegal market nets illegal operators about 4 billion euros a year.

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